Hurghada update Post Brexit
After the Brexit vote, Rivermead Global Ltd like every other business thought “so what is this going to do for our business?” as we market properties outside the EU we didn’t think it would affect us that much, we were wrong!
It has had a huge positive effect for us, we have seen an increase in enquiries and searches on our website, why? We can’t be sure but looking at the instability of the EU, the weak pound, rise in property prices/taxes the possibility of needing visas to travel to the more popular countries like Spain, France, Portugal etc… We think people are looking for ‘THE’ next second home destination where they can purchase an affordable property easily and not have a lot of red tape/taxes etc… It’s not just people looking to buy properties either, we have seen a big increase in rental enquiries, which makes us think the tourism markets which have been quite slow over the past few years are also benefitting from people looking for somewhere else to have their family holidays.
Hurghada is still the best kept secret on the Red Sea Coast, most people have heard of Sharm El Sheikh but not many have heard of Hurghada or how easy it is to get to, how it is remote along the Red Sea Coast so not somewhere you get many strangers. Most Hurghardians seem to know each other as it is a small community when compared against other places and there is a real friendly feel everywhere you go. We have UK staff who live and work in Hurghada, they say they feel safer and more ‘at home’ in Hurghada than they do in the UK.
Hurghada, has around 360 days a year of sunshine, it has World Class Diving, it has some of the best Kite Surfing conditions, it has Golf Courses, it has a very low cost of living and to top it all off you can buy a studio on a resort with 2 swimming pools, great on site facilities, only 400m to the beach, 20 mins from the International Airport, 10 mins from the exclusive gated resort of El Gouna for only £8,765 freehold. There are obviously larger and more expensive apartments, like a 2 bed for only £24,418 (yes you read that right, less than £25,000 for outright ownership). As if it needed to be even better, you only need 40% deposit, the rest can be paid over 24 months interest free and you can still get the keys at the end of 2016 when it is fully open.
You could even opt for an off plan resort by the same developers (this will be their 13th development so great track record), but they have made it even easier to buy with only 30% deposit, 20% on completion end of 2019 and 50% paid over 60 months interest free (that’s right 0% APR for 5 years) Tiba View Studio
I could go on and on, but I am sure you get the picture why more and more people are looking at Hurghada for their dream home in the sun or their family holiday, please use this link if you would like to confirm what I said about the studio being only £8,765 or £3,506 deposit and £220 per month for 24 months (you couldn’t buy a half decent car for that) Tiba Resort Studio
If you would like to learn more about the buying process please have a read of this Ultimate Buying Guide I wrote using my 9 years of knowledge and experience of the Hurghada real estate market.
Thank you for reading please feel free to comment below if you wish, if you have any questions or would like to learn more about how easy buying a property in Hurghada can be when you use Rivermead Global Ltd please contact us for a no obligation chat or email. Here are some comments from previous clients which have all found out how easy and enjoyable buying a property in Hurghada can be – What our clients have to say